Aluminium deficit persists despite easing Middle East tensions
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https://think.ing.com/articles/aluminium-deficit-persists-despite-easing-middle-east-tensions/
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4 itemsAluminium deficit persists despite easing Middle East tensions
The desk interprets ongoing aluminium market dynamics as a persistent deficit, underscored by geopolitical improvements but hindered by enduring supply constraints. Per the full note from ING Think, even with reduced tensions in the Middle East, the broader supply picture remains strained, anticipating a global aluminium deficit of 1.8 million tonnes this year. This contrasts with a market that has experienced a significant production loss of approximately 3 million tonnes due to earlier geopolitical unrest. The consensus around aluminium's value trajectory may become increasingly critical as the market grapples with these disparities amidst a lack of immediate economic indicators on the calendar.